One of the most important reasons to create a comprehensive estate plan is to avoid leaving behind an intestate estate when you pass away. In legal terms, an “intestate” estate occurs when someone dies without a valid Last Will and Testament or trust agreement outlining the distribution of their assets. If you die intestate in Minnesota, the state's intestate succession laws, not your personal wishes, control who inherits your estate. This can result in unintended consequences, delays in … [Read more...] about Why It Is Important to Avoid Dying Intestate in Minnesota

It can be difficult enough watching an elderly loved one struggle with the physical and/or mental deterioration that goes along with aging. Worrying about how caregivers are treating an elderly loved one adds another layer onto normal concerns about older family members. If you begin to suspect that your loved one is being abused or neglected, however, it is time to act. To help you decide how to proceed, the Grand Forks elder law attorney at Thompson Law explains what you can do if you suspect … [Read more...] about What Can I Do If I Suspect Elder Abuse or Neglect in Minnesota?

On the May 25, 2024 episode of the Legacy of Agriculture, host Chris Bair talked with special guest Andrew Knutson, an attorney of Thompson Law who specializes in Estate Planning, Elder Law & Medicaid Services as well as Asset Protection & Business Planning. Andrew's work with Thompson law has helped countless Ag families establish a legacy that can be passed from one generation to the next in the most efficient way possible. His practice utilizes planning, up-to-date information on … [Read more...] about Thompson Law featured on Legacy of Agriculture Podcast

As we age, we start to realize that our parents age as well. At some point, we even think we have accepted the reality that our parents will pass away someday. When that “someday” becomes “someday soon” because of a terminal diagnosis, it can cause emotional upheaval and practical confusion. Having a list of steps to take following a terminal diagnosis can be a huge benefit. To get you started, the Grand Forks elder law attorneys at Thompson Law have put together the following 10 things to do … [Read more...] about 10 Things to Do When an Elderly Parent Gets a Terminal Diagnosis

Andrew Knutson, managing attorney at Thompson Law, PLLC in Sioux Falls, SD, has been selected to the list of 2021 Great Plains Rising Stars for estate and business planning. Andrew has been part of the Super Lawyers/Rising Stars lists consecutively since 2013. Being a Rising Star, Knutson represents the top 2.5% of all attorneys in the state of South Dakota. To become eligible for this title, attorneys must be under the age of forty or have practiced for less than ten years. Thomson Reuters … [Read more...] about Knutson named 2021 Great Plains Rising Star

Sell your business – or part of it – to family and avoid taxes. Does it sound like a potential path for you? Then you’ll want to draw on Andrew Knutson’s expertise at the upcoming annual conference of the Prairie Family Business Association. Knutson is the owner and managing attorney at Thompson Law PLLC in Sioux Falls. He has focused his practice for the past 12 years in the areas of trusts, estate planning, asset protection and business law. He serves as co-chair of the business law … [Read more...] about When it’s time to sell the family business – including to family – keep tax strategy in mind

Join us as Photographer Robyn Ventura with Rockin' RV Photography sets-up shop at Thompson Law! We are now scheduling mini-photo sessions for Thompson Law clients and their families. Choose a date that works best for you: Saturday, March 27th from 9am-12pmSunday, March 28th from 10am-1pmMonday, March 29th from 4:15-6:15pm   The theme for the photos is Spring & Easter. Sessions will be booked in 15-minute increments. This is a great opportunity to get a quick family photo and … [Read more...] about Book A Spring Family Photo Mini Session

This may seem odd, but we need to believe and listen to what the politicians are saying.  Regardless of your political views, tax laws are set to become less favorable this year (unless you consider more taxes to be favorable). Notably, the credit you will have for estate and gift taxes will be reduced.  Review: The federal estate tax allows a “unified credit” for every person. The unified credit is the amount that the federal government will allow each person to pass to the … [Read more...] about Important Tax Notice for Clients

Please join us on May 20 for an online Refresher Course.  This virtual session is geared for clients, family members, guests of clients, and successor trustees to your estate plan - simply join us from the comfort of home, on any device!  It’s a good time to think back and note any changes in your own family and/or your assets, and the effect those changes might have on your estate plan.  We will inform you of recent relevant changes in the law that have impacted your estate … [Read more...] about Details About Upcoming Virtual Client Refresher Course & Recent Legal Updates